Disc Medicine (NASDAQ:IRON - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Wedbush in a research report issued on Friday,RTT News reports. They presently have a $83.00 price objective on the stock. Wedbush's price objective suggests a potential upside of 40.11% from the company's current price.
IRON has been the subject of a number of other reports. Morgan Stanley upgraded shares of Disc Medicine from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research note on Tuesday, November 5th. Scotiabank lifted their price target on Disc Medicine from $62.00 to $70.00 and gave the company a "sector outperform" rating in a research report on Tuesday, November 5th. Jefferies Financial Group started coverage on Disc Medicine in a report on Wednesday, October 23rd. They set a "buy" rating and a $89.00 price objective on the stock. HC Wainwright reaffirmed a "buy" rating and set a $118.00 target price on shares of Disc Medicine in a report on Monday, December 9th. Finally, Raymond James raised shares of Disc Medicine from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $66.00 to $110.00 in a report on Monday, November 4th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $87.50.
Check Out Our Latest Research Report on Disc Medicine
Disc Medicine Price Performance
Shares of IRON traded down $3.30 during mid-day trading on Friday, hitting $59.24. The stock had a trading volume of 701,611 shares, compared to its average volume of 321,302. Disc Medicine has a 52 week low of $25.60 and a 52 week high of $77.60. The business has a fifty day moving average price of $63.46 and a 200-day moving average price of $52.82. The firm has a market cap of $1.76 billion, a P/E ratio of -14.88 and a beta of 0.75.
Disc Medicine (NASDAQ:IRON - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.04) by $0.15. As a group, research analysts expect that Disc Medicine will post -4.05 earnings per share for the current fiscal year.
Insider Transactions at Disc Medicine
In other news, Director William Richard White sold 7,136 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $58.61, for a total transaction of $418,240.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John D. Quisel sold 19,820 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $63.14, for a total value of $1,251,434.80. Following the completion of the sale, the chief executive officer now owns 72,065 shares of the company's stock, valued at approximately $4,550,184.10. This trade represents a 21.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,758 shares of company stock valued at $5,400,990. Insiders own 4.24% of the company's stock.
Institutional Investors Weigh In On Disc Medicine
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its position in Disc Medicine by 76.9% in the 2nd quarter. Amalgamated Bank now owns 568 shares of the company's stock valued at $26,000 after acquiring an additional 247 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Disc Medicine by 45.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,075 shares of the company's stock valued at $54,000 after purchasing an additional 337 shares in the last quarter. Quest Partners LLC bought a new stake in Disc Medicine in the 3rd quarter worth about $131,000. Quantbot Technologies LP bought a new stake in Disc Medicine in the 3rd quarter worth about $146,000. Finally, Intech Investment Management LLC purchased a new position in Disc Medicine in the 3rd quarter worth about $228,000. Hedge funds and other institutional investors own 83.70% of the company's stock.
Disc Medicine Company Profile
(
Get Free Report)
Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.
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